Markets

New Zealand dollar trims losses after RBNZ policy statement

Published December 11, 2013 Updated December 11, 2013 08:30pm

1 min

By Muhammad Iqbal

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SYDNEY: The New Zealand dollar rose nearly half a US cent on Thursday, after the Reserve Bank of New Zealand (RBNZ) said it was likely to raise interest rates sooner and higher than its trading partners.

The kiwi dollar climbed to $0.8282, from $0.8230 before the central bank statement, but was still 0.3 percent lower on the day. It was last at $0.8273.

The RBNZ held its benchmark cash rate steady at 2.5 percent as expected.

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